The Bass Strait Oil Trust has declared a slightly lower oil price royalty for the quarter ending 31 March, 2003 of $9,988,702. The total is 3.4% down on the previous quarter and makes a total for the half year of $20,332,492, also down 11.1% on the previous half year.
The trust has attributed the lower earnings to the lower levels of production due to natural field decline, which was partially offset by the higher average $A oil price. Demand for natural gas was also lower due to seasonal conditions.
The total distribution for each redeeming unit will be 46.2102 cents, 25 cents capital redemption payment and 21.2102 cents income, to be paid on the 15 July, 2003.
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